MEXC Order Types Explained Simply
MEXC Order Types Explained Simply
MEXC Global is a cryptocurrency exchange that offers various trading services, including spot trading, derivatives trading (futures), and staking opportunities. This overview aims to provide beginners with a simple understanding of the platform's core features and how to execute trades using different order types.
Core Features Overview
MEXC supports a wide range of digital assets and provides a platform for both novice and experienced traders.
- **Asset Support**: A large selection of cryptocurrencies, including major coins and numerous smaller-cap tokens.
- **Trading Modes**: Offers both Spot market trading and leveraged trading via futures.
- **Security**: Implements standard security measures to protect user accounts and assets.
- **User Experience**: Accessible via both a web interface and dedicated mobile applications.
Trading Fees
MEXC generally employs a tiered fee structure based on the user’s 30-day trading volume and their holdings of the native MX token. Fees for spot trading are typically competitive, often featuring lower rates for makers (those adding liquidity) than for takers (those removing liquidity). Futures trading fees are usually structured separately.
Supported Assets
The exchange lists hundreds of trading pairs across its spot and derivatives markets. Users can trade major assets like Bitcoin (BTC) and Ethereum (ETH), alongside a vast selection of altcoins.
Spot vs. Futures Trading Basics
- Spot market: Involves the immediate buying or selling of the actual underlying asset. If you buy BTC on the spot market, you own that BTC directly in your exchange wallet (minus fees).
- Futures contract: Involves trading contracts that derive their value from an underlying asset. These contracts allow for leverage (borrowing funds to amplify potential gains or losses) and are often used for speculation or hedging. MEXC offers perpetual futures contracts. Understanding concepts like the Moving Average Explained can be helpful when trading derivatives.
Order Types on MEXC
Understanding order types is crucial for managing trades effectively. The type of order you place dictates how and when your trade will be executed in the Order book.
Spot Order Types
The most common orders available for spot trading include:
- Limit order: Allows the user to set a specific price at which they wish to buy or sell. The order only executes if the market reaches that price or better.
- Market order: Executes immediately at the best available current price in the market. This prioritizes speed over price certainty.
- Stop-Limit/Stop-Market: Used primarily for risk management, these trigger an order (limit or market) only once a specified stop price is reached.
Futures Order Types
Futures markets often support more complex order types necessary for managing leveraged positions:
- Post-Only: Ensures that an order, if placed, will only be added to the Order book as a maker order, never immediately matching against existing resting orders.
- IOC: Requires that any portion of the order that can be filled immediately must be filled, and any remaining unfilled portion is automatically cancelled. You can read more about this type here: Immediate-or-Cancel (IOC) Order.
The table below summarizes key order characteristics:
| Order Type | Execution Priority | Price Certainty |
|---|---|---|
| Market order | Immediate | Low (price depends on current book) |
| Limit order | Price Priority | High (set by user) |
| IOC | Immediate or Cancel | Varies based on fill |
Liquidity and Markets
Liquidity refers to how easily an asset can be bought or sold without significantly affecting its price. MEXC maintains substantial liquidity across its major trading pairs, which generally ensures tighter spreads (the difference between the highest bid and lowest ask) and more efficient trade execution. Traders should always check the depth of the Order book for less popular assets.
Security Practices
MEXC employs several security measures:
- Two-Factor Authentication (2FA).
- Cold storage for the majority of user assets.
- Withdrawal whitelisting and anti-phishing codes.
Users are strongly encouraged to enable 2FA immediately after registration.
KYC and Limits
MEXC often offers tiered account verification (Know Your Customer or KYC). Unverified accounts usually have lower withdrawal limits. Completing full KYC typically increases daily/monthly withdrawal amounts and may be required for accessing certain advanced features.
Funding and Withdrawals
Users can deposit funds via cryptocurrency transfers or sometimes fiat on-ramps (depending on region). Withdrawals are processed according to the network confirmation times and internal processing schedules of the exchange. Fees apply to withdrawals, which vary based on the specific cryptocurrency network being used.
Mobile and Web User Experience (UX)
The MEXC platform is designed to be accessible across devices. The web interface is generally feature-rich, suitable for detailed analysis. The mobile app focuses on accessibility and quick trading execution, allowing users to monitor their positions and execute trades on the go.
Risks and Responsible Trading
Cryptocurrency trading, especially leveraged futures trading, carries a high degree of risk. Leverage magnifies both profits and losses. Users should educate themselves on market volatility, margin calls, and liquidation prices before engaging in futures trading. It is vital to only trade with capital you can afford to lose. For those new to derivatives, understanding market structure, such as Backwardation Explained, is beneficial.
First Steps Checklist
If you are new to MEXC, follow these steps:
1. Register here to create an account. 2. Enable Two-Factor Authentication (2FA) immediately. 3. Complete basic KYC verification to increase limits. 4. Deposit a small amount of cryptocurrency to test the process. 5. Start with small trades in the Spot market before exploring futures.
See also (on this site)
- Exploring MEXC Exchange Features
- Understanding MEXC Trading Fees Structure
- Assets Available on MEXC Platform
- Assessing MEXC Liquidity Depths
Recommended articles
- MACD explained
- OCO (One-Cancels-the-Other) Order
- The Role of Hedging and Speculation in Futures Markets Explained
- What Are the Different Types of Crypto Futures Contracts?
- The Impact of Circuit Breakers on Crypto Futures: Exchange-Specific Features Explained
Recommended Futures Trading Platforms
| Platform | Futures perks & welcome offers | Register / Offer |
|---|---|---|
| Binance Futures | Up to 125× leverage, USDⓈ-M contracts; new users can receive up to 100 USD in welcome vouchers, plus lifetime 20% fee discount on spot and 10% off futures fees for the first 30 days | Sign up on Binance |
| Bybit Futures | Inverse & USDT perpetuals; welcome bundle up to 5,100 USD in rewards, including instant coupons and tiered bonuses up to 30,000 USD after completing tasks | Start on Bybit |
| BingX Futures | Copy trading & social features; new users can get up to 7,700 USD in rewards plus 50% trading fee discount | Join BingX |
| WEEX Futures | Welcome package up to 30,000 USDT; deposit bonus from 50–500 USD; futures bonus usable for trading and paying fees | Register at WEEX |
| MEXC Futures | Futures bonus usable as margin or to pay fees; campaigns include deposit bonuses (e.g., deposit 100 USDT → get 10 USD) | Join MEXC |
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